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Tex. Bus. Orgs. Code § 21.461

PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST INDENTURE

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff

Except as provided by the corporation's certificate of formation:

(1) the board of directors of a corporation may authorize a pledge, mortgage, deed of trust, or trust indenture; and

(2) an authorization or consent of shareholders is not required for the validity of the transaction or for any sale under the terms of the transaction.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.